Vitable Health, the leading all-in-one health benefits platform making healthcare more accessible to small businesses and their employees, has officially announced its acquisition of Liferaft’s HRA platform.
According to certain reports, the stated acquisition of Liferaft makes for a critical piece in building the first unified platform, geared towards solving the “Impossible Triangle” of employee healthcare,
More on that would reveal how this particular platform will come in handy to cut down on costs, while simultaneously using AI to expand coverage and eliminate costly administrative burdens that previously made affordable, quality care hard to get.
“For decades, employers have faced an impossible choice: affordable healthcare that’s low quality, high-quality care that’s unaffordable, or burning countless hours managing fragmented benefits and point solutions,” said Joseph Kitonga, Founder and CEO of Vitable Health. “By combining Liferaft’s ICHRA technology with our direct care network, we’ve broken through the impossible triangle and created something revolutionary: a single platform for employee healthcare and benefits, that eliminates these painful tradeoffs completely.”
Before we dig any further into the given deal, breakthrough comes as 58 percent of small businesses report they can no longer afford traditional group health insurance, leaving more than 80 million Americans uninsured or underinsured.
In response, Vitable will integrate Liferaft’s ICHRA platform into its existing healthcare services and become the first national provider to offer both ICHRA-based coverage and end-to-end primary care services under one platform. This platform, on its part, will bank upon AI to cut down on bureaucratic costs associated with middlemen.
In fact, the company has already eliminated an estimated 25 percent of healthcare costs that are typically wasted on administration. The idea here is to empower employers to reinvest those savings directly into high-quality care for their teams, rather than overhead.
You see, with burdensome administrative fees of traditional ICHRA providers shunned from the picture, Vitable Health has been able to built a robust and fiscally sustainable platform, which is capable of saving businesses and their employees money, as well as offering seamless and delightful access to essential care.
Talk about some of the highlighting benefits of Vitable’s platform, we begin from its promise to provide 35 percent lower costs. This translates to how employers can set fixed monthly contributions that average 35 percent below traditional group plans, with predictable budgeting and no surprise increases.
Next up, there is potential for superior care access, as every member will receive unlimited primary care, mental health services, and coverage for over 1,000 medications, all of it becoming available with out-of-pocket costs not dipping into their deductibles or out of pocket maximums.
Another detail worth a mention is rooted in the prospect of a 90-minute setup, along with the need for zero ongoing admin.
Founded in 2020, Vitable Health’s rise up the ranks stems from offering employers affordable, ACA-compliant health benefit solutions—including MEC and MVP plans, ICHRA and QSEHRA options, Direct Primary Care, Dental and Vision coverage, and Hospital Indemnity. Each of the company’s plans markedly includes access to primary care visits, mental health services, and over 1,000 covered prescriptions.
Vitable’s credentials are also helped by the fact that it has, thus far, raised $25 million from top-tier investors such as First Round Capital, Y Combinator, Cherryrock Capital, Citi Bank’s Impact Fund, Commerce Ventures, Jack Altman, Michael Seibel, Immad Akhund, and SoftBank Opportunity Fund.
“We’ve spent years simplifying healthcare benefits for growing teams,” said Nimish Shukla, Co-Founder and COO of Liferaft. “In Vitable Health, we found a partner with a shared belief that better care should be both accessible and affordable. Together, we can deliver real impact to millions of workers, and we can do it now, not later.”